DENVER, Aug. 1, 2016 /PRNewswire/ -- Vista
Gold Corp. (the "Company," "we" or "our") (NYSE MKT: VGZ) (TSX:
VGZ) today announced its unaudited financial results for the second
quarter ended June 30, 2016.
Management's quarterly conference call to discuss these results is
scheduled for 2:30 p.m. MDT on
August 10, 2016. The Company's
unaudited financial statements, Management's Discussion and
Analysis together with other important disclosures can be found in
the Company's Quarterly Report on Form 10-Q, filed on August 1, 2016 with the U.S. Securities and
Exchange Commission and the Canadian securities regulatory
authorities.
Summary of Second Quarter 2016 Financial Results
We reported net income of $1.6
million or $0.02 per share for
the three months ended June 30, 2016.
This includes an unrealized $3.3
million mark-to-market gain on our investment in Midas Gold
Corp. ("Midas"); offset by $1.7
million of operating expenses and other expenses. During the
three months ended June 30, 2015, we
reported net income of $3.6 million
or $0.04 per share. This
included a $5.9 million payment
received from the Australian Government under a research and
development incentive program; an unrealized $0.3 million mark-to-market loss on our
investment in Midas; and $2.0 million
in operating expenses.
Our working capital at June 30,
2016 totaled approximately $16.0
million, including cash and short-term investments
(comprised of government securities) of approximately $10.3 million. The Company has no debt.
To review the Company's Quarterly Report on Form 10-Q for the
three and six months ended June 30,
2016, including the related Management's Discussion and
Analysis, visit any of the following websites: www.sedar.com,
www.sec.gov or www.vistagold.com.
Management Conference Call
A conference call with management to review our financial
results for the three months ended June 30,
2016 and to discuss corporate and project activities is
scheduled for Wednesday, August 10,
2016 at 2:30 p.m. MDT.
Toll-free in North America:
1-866-233-5249
International: 416-642-3300
This call will also be web-cast and can be accessed at the
following web location:
http://event.on24.com/r.htm?e=1234673&s=1&k=5184360283907E75CCB91632F5469D43
This call will be archived and available at www.vistagold.com
after August 10, 2016. Audio
replay will be available for 21 days by calling toll-free in North
America: 1-888-203-1112, passcode 5515432.
If you are unable to access the audio or phone-in on the day of
the conference call, please email questions to Connie Martinez, Manager – Investor Relations
(email: connie@vistagold.com), and we will try to address these
questions prior to or during the conference call.
All dollar amounts in the press release are U.S. dollars.
About Vista Gold Corp.
The Company is a well-funded gold project developer. Our
principal asset is our flagship Mt Todd gold project in Northern
Territory, Australia where we
continue to work to identify opportunities to improve project
economics with the goal of advancing the project toward
development. We also hold approximately 4.4% of the outstanding
common shares of Midas, non-core projects in Mexico and the
United States and royalty interests in Indonesia. For more information about our
projects, including technical studies and resource estimates,
please visit our website at www.vistagold.com.
For further information, please contact Connie Martinez at (720) 981-1185.
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SOURCE Vista Gold Corp.